The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010 $ 18,000 11,000 28,000 21,000 Accounts payable Accounts receivable Accumulated depreciation-equipment Advertising expense Cash Akram, Capital (1/1/10) Equipment Note payable, due 6/30/11 Patents 20,000 Prepaid insurance (12-month policy) 6,000 Retained earnings, (31/12/2010) 10,000 Service revenue 133,000 Prepare the total current assets side only of the classified balance sheet at December 31, 2010? ( 15,000 102,000 190,000 70,000
The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010 $ 18,000 11,000 28,000 21,000 Accounts payable Accounts receivable Accumulated depreciation-equipment Advertising expense Cash Akram, Capital (1/1/10) Equipment Note payable, due 6/30/11 Patents 20,000 Prepaid insurance (12-month policy) 6,000 Retained earnings, (31/12/2010) 10,000 Service revenue 133,000 Prepare the total current assets side only of the classified balance sheet at December 31, 2010? ( 15,000 102,000 190,000 70,000
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter8: Liabilities And Stockholders' Equity
Section: Chapter Questions
Problem 8.1.2MBA
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![The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010
Accounts payable
$ 18,000
Accounts receivable
11,000
28,000
21,000
Accumulated depreciation-equipment
Advertising expense
Cash
Akram, Capital (1/1/10)
Equipment
15,000
102,000
Note payable, due 6/30/11
Patents
20,000
Prepaid insurance (12-month policy)
6,000
Retained earnings, (31/12/2010)
10,000
Service revenue
133.000
Prepare the total current assets side only of the classified balance sheet at December 31, 2010? (Use report format)
190,000
70,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F64501682-9882-4dc0-885f-0be385d6b931%2F51074a62-5f39-4251-8a53-115fae73b9c1%2Fakwqk6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following items are taken from the financial statements of Akram Company for the year ending December 31, 2010
Accounts payable
$ 18,000
Accounts receivable
11,000
28,000
21,000
Accumulated depreciation-equipment
Advertising expense
Cash
Akram, Capital (1/1/10)
Equipment
15,000
102,000
Note payable, due 6/30/11
Patents
20,000
Prepaid insurance (12-month policy)
6,000
Retained earnings, (31/12/2010)
10,000
Service revenue
133.000
Prepare the total current assets side only of the classified balance sheet at December 31, 2010? (Use report format)
190,000
70,000
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